On Friday, Atlantska Plovidba published a report detailing that the takeover bid obligation has been triggered for the Company’s shares. During the recent capital increase process of Atlantska Plovidba (683.5k shares, EUR 27.9m), TANKERSKA PLOVIDBA acquired an additional 32.65% share in the Company, bringing its total shareholding amount to 39.1%. As such, the takeover offer obligation has been triggered for TANKERSKA PLOVIDBA to acquire the remaining shares of Atlantska Plovidba.

This report is one that is mandatory to trigger whenever someone purchases more than 25% of a given company. Recently, Atlantska Plovidba had a capital increase, with a total of 683.5k shares, in the amount of EUR 27.9m. After the increase, the Company’s share capital amounted to EUR 83.3m. As TANKERSKA PLOVIDBA was the one who bought those shares during the share capital increase, they increased their share of Atlantska Plovidba by 32.65%. Before this process, TANKERSKA PLOVIDBA owned a little over 136k shares in Atlantska Plovidba, representing 6.45% of the share capital. After the share increase, it owns 818.5k shares, or 39.1% of the total.

The takeover offer thus, is for all the remaining shares of Atlantska Plovidba. As such, more details detailing the price offered for the share are yet to be disclosed. After the announcement was made, the trading of Atlantska Plovidba’s shares was suspended until the end of Friday.

Atlantska Plovidba share price development (2020 – 2023 YTD, EUR)

Source: Bloomberg, InterCapital Research